Nifty is likely to trade in a range in the coming month and provided it sustain above 5480 we may see it touching maximum 5,620-5,650 as a strong psychological barrier exists at its 50 day moving average (DMA) which is 5640 and support will be seen at 5,485-5385. Nifty may see a breakout in either direction and one need to adopt cautious approach as Nifty hit resistance closer to the upper end of the Bollinger Band before slipping back to lower levels.
Resistance:- Nifty has 5600 Resistance Level
Support :- Nifty has 5495-5463 Support Level
Get free Market Tips Click: Nifty Tips
